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but across the country people remained out of work and are still out of force so this time president obama ran under the banner it could have been so much worse as you imagine it was not a better deal or a national euphoria it was more like you have no choice but to choose me kind of something that shocked me as i was covering the election here it was it was the second debate between obama and romney i'm sure you remember if you remember that i just presidential nominee from the green party joel stein was arrested right outside the venue where the debate was taking place she was protesting for exclusion from the state and nobody like no news channel period mentioned her arrest none and i was switching channels for hours to see if anything was said about that and he was nothing i can imagine what the reaction would be here in the states if a presidential candidate is the other big country was arrested in the media there would be but eventually but apparently it happens in the u.s. no big deal presidential candidates get arrested all the time right well there was some irony in that yes anywa
but across the country people remained out of work and are still out of force so this time president obama ran under the banner it could have been so much worse as you imagine it was not a better deal or a national euphoria it was more like you have no choice but to choose me kind of something that shocked me as i was covering the election here it was it was the second debate between obama and romney i'm sure you remember if you remember that i just presidential nominee from the green party...
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and a lot of liberals are arguing that obama caved and they don't like the deal that he negotiated and they might say, you know what, we're already over the cliff. let's wait for the new congress to get in the house. we'll start over. so this is pretty bad news if you think from the perspective of wanting a deal before thursday. >> if they start all over again, they could do it within a few days and my experience in washington, the longer you wait on a deal like, this the more complicated potentially you could get. >> they can't let us continue on the fiscal -- we've gone over the fiscal cliff. >> unemployment could go from 7.75% to 7.95%. >> the white house tried to do a grand bargain with boehner and revenue piece that's been kicked back to the house and the house is saying, forget it, forget it, we want these spending cuts, too. so everyone has to be in a room negotiating this thing. >> ryan, thank you. >>> the vice president joe biden has just weighed in on the confusion in the house of representatives. what is he saying? stand by. jessica yellin is over at the white house. 315 hor
and a lot of liberals are arguing that obama caved and they don't like the deal that he negotiated and they might say, you know what, we're already over the cliff. let's wait for the new congress to get in the house. we'll start over. so this is pretty bad news if you think from the perspective of wanting a deal before thursday. >> if they start all over again, they could do it within a few days and my experience in washington, the longer you wait on a deal like, this the more complicated...
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rejection of the fiscal cliff deal sign that the they that obama won't be negligenting on the debt ceiling? >> this is art. where does this leave us at this point? amendments, no time for that, pass it. nothing like bringing in the new year with a good old fiscal cliff get it together congress. henry is on our independent line, henry, good afternoon, this is c-span and you're on. caller: good afternoon. i'm an independent and i wanted to comment that i guess the democrats have to be cause shouse that the republicans don't wake up and take the position they have in a catch 22 position. they can give him everything he asked for and if he's successful in his programs and his plans, we are the republican party and the house gave you ever dollar you asked for, everything worked out fine and turn around to the american public and say it was us, the republicans that did this. if it doesn't work out they can turn around and say, well, we gave you everything you asked for and it didn't work. it time for us to take over. just a word of caution to the democrats. >> connie in south carolina. good afte
rejection of the fiscal cliff deal sign that the they that obama won't be negligenting on the debt ceiling? >> this is art. where does this leave us at this point? amendments, no time for that, pass it. nothing like bringing in the new year with a good old fiscal cliff get it together congress. henry is on our independent line, henry, good afternoon, this is c-span and you're on. caller: good afternoon. i'm an independent and i wanted to comment that i guess the democrats have to be cause...
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the accusation was always made that all this stuff was an attempt to discredit liberalism and the new deal and we now have in our own time we heard it said not since obama was in office, dissidence is the highest form of patriotism. i don't buy that. i don't buy it at all. of course the democrats no longer say that. i hardly dared tell you where i would draw the line. federal marshals will materialize out of the walls, and lock me up immediately. i was delicately suggesting that even whitaker chambers, who was a great man and "witness" is a great book, but whitaker chambers fell into the misguided view of america that was prevalent, not so prevalent but always existed on the right. understanding of the precious value and virtues of the society, even now. and denigrating it which is quite consistently, and he saw a lot in common between chambers and canon, i have been rereading "witness" and i said to my wife last night chambers has a lot in common with george kennedy. when i said this, they were deeply patriotic. i said no they weren't. i don't think they were traitors or anybody, and the
the accusation was always made that all this stuff was an attempt to discredit liberalism and the new deal and we now have in our own time we heard it said not since obama was in office, dissidence is the highest form of patriotism. i don't buy that. i don't buy it at all. of course the democrats no longer say that. i hardly dared tell you where i would draw the line. federal marshals will materialize out of the walls, and lock me up immediately. i was delicately suggesting that even whitaker...
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president obama is encouraging them to, quote, pass it without delay, but this is not a done deal, not by any stretch of the imagination. the senate bill would raise taxes for individuals making more than $400,000 a year, $450,000 for couples. those are levels that are higher than what president obama had called for during the presidential campaign and during the heated negotiations. senior white house foreign affairs correspondent wendell goler is live with the latest. does the white house have a sense of what might happen in the house? >> reporter: vice president biden wouldn't predict how the house would vote, in fact, the president and his aides are waiting to see if the house even picks up the vote today. the senate deal, basically, buys the nation a two month extension of the so-called fiscal cliff, but it doesn't contain any spending cuts, and that's a going to make it a tough sell to house republicans. yesterday the president aimed to put some pressure on them in an appearance that showcased middle class americans who'd be hit by a tax hike. mr. obama said he'd have preferred a
president obama is encouraging them to, quote, pass it without delay, but this is not a done deal, not by any stretch of the imagination. the senate bill would raise taxes for individuals making more than $400,000 a year, $450,000 for couples. those are levels that are higher than what president obama had called for during the presidential campaign and during the heated negotiations. senior white house foreign affairs correspondent wendell goler is live with the latest. does the white house...
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many democrats didn't love all the details, but they're going to -- president obama has signed on to the deal, so that's going to push a lot of democrats over the line and they'll get enough votes today to get this passed. >> all right, let's say this gets done today, lynn. vice president biden reportedly told democrats, and we saw him going on the hill, i don't know what time, 10:00, 11:00 last night, that the real work is yet to come in march, when the sequester cuts will come up again, and of course, the debt ceiling battle. how does what happened last night either pave the way for or impede the way to what happens in the spring? >> well, it sets it up. it's a kick of the can down the road. and one of the trade-offs that biden made was giving the restoring to republicans some of the leverage they lost right now. everyone knows that the big pressure to get the senate to act was that everyone's taxes was going to rise at midnight. now it's some people's, the wealthiest taxes. that was leverage. democrats won't have it again in a few weeks. that's another reason why some democrats th
many democrats didn't love all the details, but they're going to -- president obama has signed on to the deal, so that's going to push a lot of democrats over the line and they'll get enough votes today to get this passed. >> all right, let's say this gets done today, lynn. vice president biden reportedly told democrats, and we saw him going on the hill, i don't know what time, 10:00, 11:00 last night, that the real work is yet to come in march, when the sequester cuts will come up again,...
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even as they closed in on that deal yesterday, congressional republicans were not happy with what they heard from president obama who held a campaign-style event at the white house. >> i'm going to be president for the next four years, i think. >> reporter: effectively continuing the partisans' bickering we've long seen. >> time to stop the cheerleading and campaigning. >> i know the president enjoys heckling and having pep rallies to get congress to act instead of sitting down and negotiating. >> reporter: now the big new year's test, can it pass in the house? for "good morning america," jonathan karl, abc news, washington. >>> president obama says the agreement reached by the senate is the, quote, right thing to do for our country and is encouraging the house to pass it without delay. >>> secretary of state hillary clinton is spending this new year's day in a new york hospital where she is being treated for a blood clot near her brain. doctors are using blood thinners to try to break up the clot which was found more than two weeks after clinton fainted and suffered a concussion. whil
even as they closed in on that deal yesterday, congressional republicans were not happy with what they heard from president obama who held a campaign-style event at the white house. >> i'm going to be president for the next four years, i think. >> reporter: effectively continuing the partisans' bickering we've long seen. >> time to stop the cheerleading and campaigning. >> i know the president enjoys heckling and having pep rallies to get congress to act instead of...
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. >>> looking beyond the senate deal, president obama is warning republicans that if they want future spending cuts, they're going to have to provide more tax revenue as well. >> if republicans think that i will finish the job of deficit reduction through spending cuts alone -- and you hear that sometimes coming from them, that sort of after today we're just going to try to shove only spending cuts down -- well, shove spending cuts at us. if they think that's going to be the formula for how we solve this thing, then they've got another think coming. >> that midday news conference didn't go over well with a lot of republicans, and they said that the president's sometimes mocking tone, as they felt it was, could hurt the fiscal cliff deal in the house. >> as i sort out my impressions of the president's remarks as to whether to be angry or to saddened. we have the president of the united states go over and have a cheerleading ridiculing of republicans exercise. >> let's bring in democratic strategist and former edwards communications director chris ka fiance and republican strategist and
. >>> looking beyond the senate deal, president obama is warning republicans that if they want future spending cuts, they're going to have to provide more tax revenue as well. >> if republicans think that i will finish the job of deficit reduction through spending cuts alone -- and you hear that sometimes coming from them, that sort of after today we're just going to try to shove only spending cuts down -- well, shove spending cuts at us. if they think that's going to be the...
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congressman tom harkin from iowa said no deal is better than a bad deal. he voted against it. "the new york times" says it weakens president obama's hand going forward and may hurt him in the debt ceiling negotiations. he has ruled out any negotiations over the debt ceiling and on monday he vowed that revenue increases must match further spending cuts. but as this deal shows, he often compromises at the last minute. that's the important part. let's leave it there. has president obama showed when his back support against the wall, he will cave? >> the president has been very strong in these negotiations. you have to keep in mind the republicans really did not want to tax more wealthy people in our society one dime. not a dime, and he's stuck with that. i consider myself a liberal and proud of it. we did not want an increase in t the age with regard to medicaid and cpi with regard to social security benefits. and the president was strong there, and i think he'll continue to be strong, and, you know, i notice a different president since he won this election, i think he is working
congressman tom harkin from iowa said no deal is better than a bad deal. he voted against it. "the new york times" says it weakens president obama's hand going forward and may hurt him in the debt ceiling negotiations. he has ruled out any negotiations over the debt ceiling and on monday he vowed that revenue increases must match further spending cuts. but as this deal shows, he often compromises at the last minute. that's the important part. let's leave it there. has president obama...
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in this deal, they're going to let that payroll tax cut expire and that will mean that an additional $20 a week out of most workers paychecks will now go back to the social security trust fund instead of into their pockets. juror all right. thank you -- >> all right. thank you for that report. >>> one major issue is the bill does not address is the debt ceiling. monday, the u.s. reached its legal borrowing limit and now the treasury department must work to buy time until the end of next month. the department will suspend some investments and benefit funds for federal workers. still, department will not be able to pay all of the nation's bills on time. this could set stage for another capitol hill battle as congress must vote to raise the debt ceiling. >> new this morning, gay marriage ceremonies are under way in maryland. same-sex couples have been able to get marriage licenses in the free state for about three weeks but the new law didn't go into effect until the strike of midnight in the new year. dozens of same-sex weddings are scheduled for today including some at city hall in ba
in this deal, they're going to let that payroll tax cut expire and that will mean that an additional $20 a week out of most workers paychecks will now go back to the social security trust fund instead of into their pockets. juror all right. thank you -- >> all right. thank you for that report. >>> one major issue is the bill does not address is the debt ceiling. monday, the u.s. reached its legal borrowing limit and now the treasury department must work to buy time until the end...
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ezra klein wrote, obama isn't making it easier for rs to vote for this deal but probably thinks if the rs kill it they get all the fiscal cliff blame. >>> new information on secretary of state hillary clinton and the blood clot that has her hospitalized. the clot is located in a vein in the space between her brain and skull near her right ear. it did not cause a stroke or neurological damage. doctors say clinton should make a full recovery and she is making excellent progress. the blood clot is related to the concussion clinton suffered earlier this month. it was discovered during a follow-up exam sunday. >>> from amazing fireworks displays to ancient traditions to our favorite polar plunges. folks around the world marked the beginning of 2013 in their own unique way. nbc's kirk gregory takes us on a tour of all those crazy celebrations. >> reporter: the first major city to celebrate 2013 was auckland, new zealand. fireworks and boat horns rang in the new year. in australia, a seven-ton fireworks display dazzled hundreds of thousands in sydney. with an estimated 1 billion people watchi
ezra klein wrote, obama isn't making it easier for rs to vote for this deal but probably thinks if the rs kill it they get all the fiscal cliff blame. >>> new information on secretary of state hillary clinton and the blood clot that has her hospitalized. the clot is located in a vein in the space between her brain and skull near her right ear. it did not cause a stroke or neurological damage. doctors say clinton should make a full recovery and she is making excellent progress. the...
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the deal making continue well into the night with the vote coming at 2:00 in the morning. as you said, the vote -- the bill passed 89-8. shortly after the vote, president obama said while neither decembers nor republicans got everything they wanted, this agreement is the right thing to do for our country and the house should pass it without delay. now, house speaker john boehner and his leadership team say they need it review the bill before putting it up for a vote. that could happen late today or perhaps wednesday. in the deal approved by the tonight, income tax rates will stay the same for most americans. individuals making $400,000 and couples making $450,000 will see their taxes rise. the planned $24 billion in spending cuts to defense and domestic programs, they've been delayed just two months. senators say it is a less than perfect plan but it is a start. >> we don't think taxes should be going up on anyone but we all knew, if we did nothing, they would be going up on everyone today. we weren't going to let that happen. each of us could spend the rest of the week di
the deal making continue well into the night with the vote coming at 2:00 in the morning. as you said, the vote -- the bill passed 89-8. shortly after the vote, president obama said while neither decembers nor republicans got everything they wanted, this agreement is the right thing to do for our country and the house should pass it without delay. now, house speaker john boehner and his leadership team say they need it review the bill before putting it up for a vote. that could happen late...
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that would minimize the impact of not having a deal in place by the start of the year. another spending battle is also brewing on capitol hill. the government is close to reaching its debt limit. the treasury is taking steps to delay reaching the $16.4 trillion borrowing limit. yesterday it stopped issuing new debt for two government retirement funds. that won't impact current retirees. treasury secretary timothy geithner announced last week that his department will adopt measures to save about $200 billion. that's going to keep the government from reaching its limit for about two months. >>> we've also got much more information coming ahead in the next few hours on this deal right here on news4 today. again on news 4 at 5:00 and at 11:00. you can also read about it by going to nbcwashington.com. >>> today is the day some couples in maryland thought would never come. same-sex marriage became legal at the stroke of midnight and it's exactly how some couples decided to bring in the new year. sabrina and natasha of frederick exchanged vows the minute same-sex marriage beca
that would minimize the impact of not having a deal in place by the start of the year. another spending battle is also brewing on capitol hill. the government is close to reaching its debt limit. the treasury is taking steps to delay reaching the $16.4 trillion borrowing limit. yesterday it stopped issuing new debt for two government retirement funds. that won't impact current retirees. treasury secretary timothy geithner announced last week that his department will adopt measures to save about...
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they missed the deadline but just two hours into the new year, the senate voted in favor of a budget deal that now goes to the house and president obama are wants action today. >>> revelers around the globe from rio de janeiro welcome 2013 with a b bang with a few peculi traditions. >>> we say good-bye to the safest air travel ever, and we say hello to over 400 new laws. "early today" starts right now. >> announcer: this is "early today" for tuesday, january 1st, 2013. >>> good morning, on this first day of january, i'm bill karins. now it's all up to the house today. they're expected to take up a senate measure approved just hours after midnight and it's halting an enormous tax hike for all but the wealthiest of americans from taking effect. nbc's steve handelsman has all the latest details from capitol hill where it's been a very long night. good morning and happy new year to you, steve. >> reporter: bill, thanks. up here on capitol hill, members of both political parties who badly want these middle class taxes rolled back fast, quote, what the senate did this morning makes it easier fo
they missed the deadline but just two hours into the new year, the senate voted in favor of a budget deal that now goes to the house and president obama are wants action today. >>> revelers around the globe from rio de janeiro welcome 2013 with a b bang with a few peculi traditions. >>> we say good-bye to the safest air travel ever, and we say hello to over 400 new laws. "early today" starts right now. >> announcer: this is "early today" for tuesday,...
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the white house hopes to have president obama's signature on the legislation by the time the new congress takes office. that is at noon on thursday. that would minimize the impact of not having a deal in place by the start of the year. >>> another spending battle is brewing on capitol hill. the government is close to reaching its debt limit. the treasury is taking steps to delay reaching the 16.4 trillion dollar borrowing limit. yesterday it stopped issuing new debt for two government retirement funds. that will not affect current retirees. treasury secretary timothy geithner announced last week that his department will adopt measures to save $200 billion keeping the government from reaching its limit for about two months. >>> we'll have much more on this deal throughout this evening on news 4 at 5:00 and then again at 11:00. you can also read about it throughout the day by going to nbcwashington.com. >>> at some point numbers will be fun again but not right now. >> absolutely. but it is a chilly start this morning. not as bad as it has been the past couple of days. >> this is true. 4:31
the white house hopes to have president obama's signature on the legislation by the time the new congress takes office. that is at noon on thursday. that would minimize the impact of not having a deal in place by the start of the year. >>> another spending battle is brewing on capitol hill. the government is close to reaching its debt limit. the treasury is taking steps to delay reaching the 16.4 trillion dollar borrowing limit. yesterday it stopped issuing new debt for two government...
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president obama released a statement shortly after the senate vote. it reads in part "tonight's agreement ensures that going forward we will continue to reduce the deficit through a combination of new spending cuts and new revenues from the wealthiest americans. i will continue to fight every day on behalf of the middle class and those fighting to get into the middle class to forge an economy that grows from the middle out, not from the top down." >>> that vote may not come right
president obama released a statement shortly after the senate vote. it reads in part "tonight's agreement ensures that going forward we will continue to reduce the deficit through a combination of new spending cuts and new revenues from the wealthiest americans. i will continue to fight every day on behalf of the middle class and those fighting to get into the middle class to forge an economy that grows from the middle out, not from the top down." >>> that vote may not come...
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on wall street today, investors bought up stocks on high hopes of deal, after president obama said this afternoon a deal is "in sight," and positive comments from republican leaders in the senate. here's how the major averages closed on this last trading day of 2012. the dow surged 166 points, the nasdaq jumped about 60, and the s&p rose almost 24 points. while wall street has already closed the books on 2012, washihiashington still has a fes to go before its new year's day fiscal cliff deadline. darren gersh has the latest. >> reporter: after a weekend of late-night negotiations with the vice president, senate republican leader mitch mcconnell said an agreement on the fiscal cliff was very, very close. >> we'll continue to work on finding smarter ways to cut spending, but let's not let that hold up protecting americans from the tax hike that will take place in about 10 hours. >> reporter: the deal would raise the top tax rate for individuals making more than $400,000 and couples with more than $450,000 in income. itemized deductions would be limited for individuals making more than $25
on wall street today, investors bought up stocks on high hopes of deal, after president obama said this afternoon a deal is "in sight," and positive comments from republican leaders in the senate. here's how the major averages closed on this last trading day of 2012. the dow surged 166 points, the nasdaq jumped about 60, and the s&p rose almost 24 points. while wall street has already closed the books on 2012, washihiashington still has a fes to go before its new year's day fiscal...
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although the deadline has passed, congress can still deal with the impact of spending cuts and tax increases that were set to go into effect on january 1. congressional leaders say they want to send legislation to president obama within a day or two, so consumers should not notice any impact. again, that from the associated press. and now, we talk to a reporter on capitol hill about the actions so far by senate democrats in reaching an agreement. todd is from the takeaway. hours before the deadline, democrats announced a scaled- down version to avoid the so- called fiscal cliff. what are some of the key items in the deal? >> the most important items people will be paying attention to are the income tax rates. you are looking at a tax increase on individuals making more than $400,000 and individuals and families making more than $450,000. president obama campaigned on 250 thousand dollars, and they are redefining what is middle class. now, someone who makes $300,000, that person is middle class, too, but that is fiscal cliff politics. you have the marginal rates. there are going to be some ch
although the deadline has passed, congress can still deal with the impact of spending cuts and tax increases that were set to go into effect on january 1. congressional leaders say they want to send legislation to president obama within a day or two, so consumers should not notice any impact. again, that from the associated press. and now, we talk to a reporter on capitol hill about the actions so far by senate democrats in reaching an agreement. todd is from the takeaway. hours before the...
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by early this afternoon amid reports of progress, president obama emerged in a campaign style setting. >> today it appears that an agreement to prevent this new year's tax hike is within sight. but it's to the done. there are still issues left to resolve. but we're hopeful that congress can get it done. but it's not done. >> it was widely reported that the deal would include making the bush era tax cuts permanent for families with incomes under $450,000 a year. for households making more than that amount, rates would rise from the current 35% to 39.6%. the agreement would also raise the estate tax. in addition, unemployment benefits would be extended for one year. otherwise some 2 million americans face the end of their benefits beginning in january. on the senate floor shortly before midafternoon, minority leader mcconnll confirmed that the stalemate on taxes appeared to be over. >> i can report that we've reached an agreement on all of the tax, the tax issues. we are very, very close. as the president just said, the most important piece, the piece that has to be done now is preventi
by early this afternoon amid reports of progress, president obama emerged in a campaign style setting. >> today it appears that an agreement to prevent this new year's tax hike is within sight. but it's to the done. there are still issues left to resolve. but we're hopeful that congress can get it done. but it's not done. >> it was widely reported that the deal would include making the bush era tax cuts permanent for families with incomes under $450,000 a year. for households making...
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i'm going to deal with obama i can't think of anybody because in america you know we have we have the a let it go she and i won the pacific ocean and the other side of mexico and canada and we're so isolated you know it's not like paris where you know within fifteen hundred miles you get twenty three different countries and we're so isolated in america it was obama who took us through and held our hand and in the sandy hook i mean hurricane sandy and in newtown the president actually he actually brought us through that he held her hand and dragged us through and said it's going to be ok. and it was but what about social protests to mean we had the occupy movement ok do you see something like this you know coming back i mean because it kind of went to a low this year. yeah they have vanished haven't yet which is really interesting in itself i think the point was made in you know in many ways including during the american presidential debate you know is it the forty seven percent or is it the the one percent it was interesting and i think the point was really made but at the end of the
i'm going to deal with obama i can't think of anybody because in america you know we have we have the a let it go she and i won the pacific ocean and the other side of mexico and canada and we're so isolated you know it's not like paris where you know within fifteen hundred miles you get twenty three different countries and we're so isolated in america it was obama who took us through and held our hand and in the sandy hook i mean hurricane sandy and in newtown the president actually he...
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president obama said a deal is in sight to stop america going over the so-called fiscal cliff. congress officials have said the house of representatives will not vote before midnight despite tense negotiations to get an agreement signed before midnight washington time. that will trigger a series of automatic spending cuts and tax hikes and could send the country back into recession. >> of america is staring into the economic unknown. there will be some real damage. there are some people deserving far better and we will be scrambling to find budget reductions in we can understand. >> we are upon the fiscal cliff. will we need to focus on is how we find that common ground. ira by -- i believe republicans and democrats alike want to put us on the course to fiscal discipline. >> we are running at a time. americans are threatened with a tax hike in just few hours. i hope we can keep in mind that our single most important goal is to protect middle-class families. >> democrats and republicans in congress have to get this done but they are not there yet. they are closed but not there y
president obama said a deal is in sight to stop america going over the so-called fiscal cliff. congress officials have said the house of representatives will not vote before midnight despite tense negotiations to get an agreement signed before midnight washington time. that will trigger a series of automatic spending cuts and tax hikes and could send the country back into recession. >> of america is staring into the economic unknown. there will be some real damage. there are some people...
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on wall street today, investors bought up stocks on high hopes of deal after president obama said this afternoon a deal is "in sight," and positive comments from republican leaders in the senate. here's how the major averages closed on this last trading day of 2012. the dow surged 166 points, the nasdaq jumped about 60, and the s&p rose almost 24 points. while wall street has already closed the books on 2012, washington still has a few hours to go before its new year's day fiscal cliff deadline. darren gersh has the latest. >> reporter: after a weekend of late-night negotiations with the vice president, senate republican leader mitch mcconnell said an agreement on the fiscal cliff was very, very close. >> we'll continue to work on finding smarter ways to cut spending, but let's not let that hold up protecting americans from the tax hike that will take place in about 10 hours. >> reporter: the deal would raise the top tax rate for individuals making more than $400,000 and couples with more than $450,000 in income. itemized deductions would be limited for individuals making more than $25
on wall street today, investors bought up stocks on high hopes of deal after president obama said this afternoon a deal is "in sight," and positive comments from republican leaders in the senate. here's how the major averages closed on this last trading day of 2012. the dow surged 166 points, the nasdaq jumped about 60, and the s&p rose almost 24 points. while wall street has already closed the books on 2012, washington still has a few hours to go before its new year's day fiscal...
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president obama said a deal is in sight to stop america going over the so-called fiscal cliff. congress officials have said the house of representatives will not vote before midnight despite tense negotiations to get an agreement signed before midnight washington time. that will trigger a series of automatic spending cuts and tax hikes and could send the country back into recession. >> of america is staring into the economic unknown. there will be some real damage. there are some people deserving far better and we will be scrambling to find budget reductions in we can understand. >> we are upon the fiscal cliff. will we need to focus on is how we find that common ground. ira by -- i believe republicans and democrats alike want to put us on the course to fiscal discipline. >> we are running at a time. americans are threatened with a tax hike in just few hours. i hope we can keep in mind that our single most important goal is to protect middle-class families. >> democrats and republicans in congress have to get this done but they are not there yet. they are closed but not there y
president obama said a deal is in sight to stop america going over the so-called fiscal cliff. congress officials have said the house of representatives will not vote before midnight despite tense negotiations to get an agreement signed before midnight washington time. that will trigger a series of automatic spending cuts and tax hikes and could send the country back into recession. >> of america is staring into the economic unknown. there will be some real damage. there are some people...
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. >> president obama said a deal is in sight and appeared at a campaign style event to remind everyone he is winning and g.o.p. is not. >> last month, republicans in congress said they would never agree to raise tax rates on the wealthiest americans. the agreement currently discussed would raise those rates, raise them permanently. >> republicans suggest the event may backfire to accuse the republican of rubbing their nose in defeat. >> the president won. we know that. he won fair and square. isn't it now time to govern? >> the president was out of line with his comments at 1:30 afternoon. this is a delegate time. i think the democrats would be embased after what the president did. >> after months of the president promising a balanced approach there are only tax hikes for rich without new spending cuts. today he hinted at more tax hikes ahead. warning republicans that the future deficit reduction will not come from cuts alone. >> if they think that is the formula for how we solve this thing, they have another thing coming. that is not how it will work. >> republicans fire back it's tim
. >> president obama said a deal is in sight and appeared at a campaign style event to remind everyone he is winning and g.o.p. is not. >> last month, republicans in congress said they would never agree to raise tax rates on the wealthiest americans. the agreement currently discussed would raise those rates, raise them permanently. >> republicans suggest the event may backfire to accuse the republican of rubbing their nose in defeat. >> the president won. we know that....
WHUT (Howard University Television)
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Dec 31, 2012
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is a lead of stricter to any kind of negotiated deal here in doha? >> i have no comment on the first part of that. >> our government must realize this failure is a betrayal of the people in the philippines and around the world that have faced climate impact now, today, and will continue in the days to come. but what is at stake here is not some the the real thing, the planet or environment, but what is at stake is selling that our children and grandchildren to futures. >> federal and new york state prosecutors have unveiled their $1.9 billion settlement with the banking giant hsbc for a massive money laundering scheme used by drug cartels and other illegal groups. >> you can do real time in jail and therefore doing ridiculous offenses, or taking it up two subway seats. people go to jail all the time in this country. for having a marijuana stem in your pocket. there are 50,000 marijuana- related cases in america alone every year. and here we have a bank money laundered billions of dollars and they cannot find anyone to put in jail. >> i had a chance t
is a lead of stricter to any kind of negotiated deal here in doha? >> i have no comment on the first part of that. >> our government must realize this failure is a betrayal of the people in the philippines and around the world that have faced climate impact now, today, and will continue in the days to come. but what is at stake here is not some the the real thing, the planet or environment, but what is at stake is selling that our children and grandchildren to futures. >>...
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view, could any of these sticking points be deal breakers? >> ah, yes. i think it's possible that they could be deal breakers. i don't think they will be, in the end. but there's serious disagreements. both sides are really digging in on the sequester cuts. that's a hard thing for republicans to come out, saying we're voting to raise taxes but we're not voting for spending cuts. democrats are saying, well, you're not raising taxes that much. in fact, way below what the president asked for and what speaker boehner offered in determines of additional tax revenue. i would expect they would get over that later tonight, but we don't know that for sure. and i do think, melissa, that going over the december 31st at midnight deadline has the potential for changing the dynamic a little bit, taking a little bitle of the urgency out of negotiations, especially for democrats, some of whom have felt, well, going over the cliff, we'll be in a stronger position. that's something to watch. >> john, keep us posted on everything coming out of d.c. john harwood
view, could any of these sticking points be deal breakers? >> ah, yes. i think it's possible that they could be deal breakers. i don't think they will be, in the end. but there's serious disagreements. both sides are really digging in on the sequester cuts. that's a hard thing for republicans to come out, saying we're voting to raise taxes but we're not voting for spending cuts. democrats are saying, well, you're not raising taxes that much. in fact, way below what the president asked for...
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if the deal we're hearing about makes it out of the senate, will the house pass it? >> let's ask congressman john yarmuth. i want to ask you point blank. do you think president obama purposely slowed things down today? >> no, i don't think so at all. what i think he was trying to do was probably to try to send a signal to the democratic base that this didn't resolve the crisis that things were still in flux. that the spending portion of this dilemma, so-called sequester, is really critical to democrats. because democrats have compromised, given up an awful lot on spending programs that are important to us. if you do away with the sequester, you see what the alternative is. last week it was plan "b." it added money for defense. slashed money for education and food stamps and nutrition programs and medicaid. that is something that's great concern to democrats. >> what are they giving up on spending? >> what are we giving up on spending? well, actually, there's a $1.2 trillion on the table right now under our democrats who say let it go. let the across the board cuts ta
if the deal we're hearing about makes it out of the senate, will the house pass it? >> let's ask congressman john yarmuth. i want to ask you point blank. do you think president obama purposely slowed things down today? >> no, i don't think so at all. what i think he was trying to do was probably to try to send a signal to the democratic base that this didn't resolve the crisis that things were still in flux. that the spending portion of this dilemma, so-called sequester, is really...
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and senator mcconnell have made this afternoon, that we're close to an agreement, close to a deal. i don't agree, i say again, that no deal is better than a bad deal. in this case of the fiscal cliff, no deal is the worst deal possible for the american people. we passed the time when we're going to -- before tonight, negotiate the comprehensive, bipartisan debt-reduction agreement that our country desperately needs. the least we can do is protect the constituents who were good enough to send us here from the worst possible result, which is that we let the country go over the cliff, we -- we prove that to everybody, including people around the world who depend on american strength and watch us, that our political system has become absolutely dysfunctional. so i hope the negotiations going on now end with an agreement and i hope that we will pass it with a bipartisan majority, strong bipartisan majority in the senate and the house. and i certainly will support it from all that i hear about it myself. i thank the chair, and i yield the floor. mr. lieberman: mr. president, i suggest th
and senator mcconnell have made this afternoon, that we're close to an agreement, close to a deal. i don't agree, i say again, that no deal is better than a bad deal. in this case of the fiscal cliff, no deal is the worst deal possible for the american people. we passed the time when we're going to -- before tonight, negotiate the comprehensive, bipartisan debt-reduction agreement that our country desperately needs. the least we can do is protect the constituents who were good enough to send us...
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president obama earlier on today saying it does appear a deal on the fiscal cliff is nearing. it is within sight. obviously a bit of work still to be done here. even mitch mcconnell says we are very, very close. so the markets have moved up on that hope we will get a done deal and avert the fiscal cliff. >>> positioning portfolios for the new year, i can majs is tricky right now. there's a lot of mess going on in d.c. we're going to help. we're going to give you the single best play for 2013. >>> and also next, two congressman, one democrat one republican. they're going to talk to us about the fiscal cliff. are they happy or sad? and can they rise above to get a deal done? "closing bell" will be back after this break. tdd#: 1-800-345-2550 when i'm trading, i'm totally focused. tdd#: 1-800-345-2550 tdd#: 1-800-345-2550 and the streetsmart edge trading platform from charles schwab... tdd#: 1-800-345-2550 gives me tools that help me find opportunities more easily. tdd#: 1-800-345-2550 i can even access it from the cloud and trade on any computer. tdd#: 1-800-345-2550 and with sch
president obama earlier on today saying it does appear a deal on the fiscal cliff is nearing. it is within sight. obviously a bit of work still to be done here. even mitch mcconnell says we are very, very close. so the markets have moved up on that hope we will get a done deal and avert the fiscal cliff. >>> positioning portfolios for the new year, i can majs is tricky right now. there's a lot of mess going on in d.c. we're going to help. we're going to give you the single best play...
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the president the united states of america barack obama. thank you everybody. not only not only was heard by barack obama but it was heard by everyone on stage even people started tweeting about it saying that you are mr joe biden you're absolutely right in the you know that guy's story or is it just me or has a bronco obama in some way been involved in almost all of the open mikes whether he's talking to someone or being talked about or it's his vice president he's you know involved in a lot of action i actually barack obama is pretty good i think i think he does work with the whole you never alone with myself i get bored in them but people does get caught in the wrong zones certainly there's talk about a guy getting caught the wrongs are not just afghanistan but well deep under the covers with one of his colleagues who wrote his autobiography general david petraeus you know the top guy there the former cia director the head of everything in afghanistan let's have a look at this just. to follow i mean it's a lot to follow and it's just you know i feel dirty ju
the president the united states of america barack obama. thank you everybody. not only not only was heard by barack obama but it was heard by everyone on stage even people started tweeting about it saying that you are mr joe biden you're absolutely right in the you know that guy's story or is it just me or has a bronco obama in some way been involved in almost all of the open mikes whether he's talking to someone or being talked about or it's his vice president he's you know involved in a lot...
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he created the debt that was left for president obama to deal with. so for republicans to throw their hands up in the air to say they have no claim to any portion of this debt is completely ridiculous. host: ok. sure. caller: i am unemployed. i have been unemployed for the last several months. i am a financial controller by trade. it is extremely difficult to find employment. i would truly appreciate for something to be settled today to it least give me my additional benefits i was originally granted but now is continued until the 29. host: thank you for joining us unsell -- thank you for joining us from california. the house republican whip sent out a memo earlier this afternoon saying that we do expect to have a series of votes later this afternoon. "today's schedule remains very fluid. members are advised to remain close to the capitol. please stay as flexible as possible as we move through the day. i will do my best to keep you updated." that is from the house republican whip. the house stands in recess at the moment. within the last half hour, th
he created the debt that was left for president obama to deal with. so for republicans to throw their hands up in the air to say they have no claim to any portion of this debt is completely ridiculous. host: ok. sure. caller: i am unemployed. i have been unemployed for the last several months. i am a financial controller by trade. it is extremely difficult to find employment. i would truly appreciate for something to be settled today to it least give me my additional benefits i was originally...
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obama is going to come out to say they have a deal, we don't know. but that's anticipation right in front of you on a stock chart. as the s&p 500 is the highs of the day, two-thirds of 1%, a gain of 9%. the dow was flat coming on the air at the top of the hour. here we go with a 54-point gain there. the dow is about to push back at 13,000. >> just within the last five minutes since you mentioned the obama press conference? >> absolutely. >> is obama going to have boehner with him? >> at the time, the market does not compare who is with him. >> so would he speak again if he didn't have good news? >> it has been almost 24 hours since he had a press conference. >> dr. jay, this is exactly what we talked about the last several days of not wanting to be short going into the weekend. dangerous position to be negative stock market when they are likely to announce something at some point, the size is the issue, obviously, but this just shows you what can happen to a stock market on a sniff of any positive news coming out of the nation's capitol. >> thomas le
obama is going to come out to say they have a deal, we don't know. but that's anticipation right in front of you on a stock chart. as the s&p 500 is the highs of the day, two-thirds of 1%, a gain of 9%. the dow was flat coming on the air at the top of the hour. here we go with a 54-point gain there. the dow is about to push back at 13,000. >> just within the last five minutes since you mentioned the obama press conference? >> absolutely. >> is obama going to have boehner...
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to cut a deal. when. mcconnell essentially gave up trying to negotiate with senate majority leader harry reid. now said to be reasonably close together on income tax rates though republicans want to use the additional money to cut the deficit and democrats to soften spending cuts. california senator barbara boxer made clear this morning she is not looking for perfection. >> i wanted to add at least a cautiously optimistic note i am hopeful we will get something done and i think if we do, and if it's fair, fair enough, we should get our country off this cliff. >> reporter: boxer says she is willing to move up the income protected from tax hikes but her bottom line is extending unemployment benefits. she says that is good for the economy and fair for the many people who still can't find work. uma? uma: wendell, is it true that some family's taxes will rise whether or not there's a deal. >>reporter: it looks like the only real question is where that income level is. the cuttoff. vice president biden, m
to cut a deal. when. mcconnell essentially gave up trying to negotiate with senate majority leader harry reid. now said to be reasonably close together on income tax rates though republicans want to use the additional money to cut the deficit and democrats to soften spending cuts. california senator barbara boxer made clear this morning she is not looking for perfection. >> i wanted to add at least a cautiously optimistic note i am hopeful we will get something done and i think if we do,...
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we're less than 14 hours from toppling over the edge if lawmakers can't hammer out a deal. the senate is returning to session in 60 minutes from now. president obama is modestly optimistic negotiations can prevent the tax hikes and spending cuts from kicking in. >> we don't yet see an agreement and now the pressure is on congress to produce. if they don't, what i have said is that in the senate, we should go ahead and introduce legislation that would make sure middle class taxes stay where they are and there should be an up or down vote. everybody should have a right to vote on that. if republicans don't like it, they can vote no. >> we're following the last-minute drama to avoid anything bad happening here. dana bash is covering the urgent talks in washington. ali velshi gives us the bottom li line. and alison kosik is on wall street watching how worried investors are reacting this hour. dana, we want to begin with you. we are hearing there might have been some progress overnight. >> a lot more optimism being expressed from sources in both parties. mitch mcconnell who the
we're less than 14 hours from toppling over the edge if lawmakers can't hammer out a deal. the senate is returning to session in 60 minutes from now. president obama is modestly optimistic negotiations can prevent the tax hikes and spending cuts from kicking in. >> we don't yet see an agreement and now the pressure is on congress to produce. if they don't, what i have said is that in the senate, we should go ahead and introduce legislation that would make sure middle class taxes stay...